Juratoys, a specialist in educational wooden toys, has announced that Argos Wityu has taken an 85% stake in the company.
All Juratoy shares had been owned by the American company Alex Brands since 2015, and the management team now holds a 15% stake in the company following negotiations that ended last night (Wednesday 25th July).
Juratoys, founded in 1970 in Orgelet, has developed the Janod brand of wooden toys, and bought the plush brand Kaloo in 2011. The workforce has grown from 20 employees in 2007 to 140 today, with turnover reaching €52.5m in 2017.
The new shareholders are expected to continue the growth of the company, particularly in the US market. Juratoys’ operating strategy is based on strong development of its ranges, with approximately 200 new products released per year.
The company has also adopted a specific marketing and sales positioning: it does not sell in supermarkets, focusing instead on toy shops and other specialist retailers. Juratoys also has a direct presence in export markets, with subsidiaries in the United States, the United States, United Kingdom, Asia, Germany and Spain.
Neil Montgomery, UK commercial director at Juratoys, commented: “Following the recent announcement, regarding the sale of Juratoys to Argos Wityu, I would just like to add my comments from a UK perspective. This is excellent news for Juratoys UK and we feel extremely positive about the future. With Argos Wityu, Juratoys will have increased financial resources to accelerate its growth in the developing market for high-end and educational toys. We look forward to seeing the development of new products and will of course continue to keep selling the great ranges across our current brands.”
Neil added: “I would like to reassure the trade, that it is ‘business as usual’ for Juratoys UK and we will continue to service our customers in the normal way.”